5. Be first to market if possible. Conventional
wisdom says being first to market creates a competitive advantage. Reality is more complicated. Market opportunities are constantly opening
and closing, and a hit today could be a dud a year earlier or a yawning "me
too" business a year later. You
gain the advantage of locking in customers, suppliers or intellectual
property. Entrepreneurs also need to
launch before an opportunity closes.
6. Marketing is
key - you need to attract and retain customers. Mars,
the company behind brands like Snickers,
Pedigree, Whiskas and Skittles, was celebrated as the Advertiser of the Year at
the Cannes Lions 2012 International Festival of Creativity.
Since Mars landed its first Cannes Lion in 1990, the company's
commercials have won 77 Lions across categories, which include 11 Gold Lions
and a Radio Grand Prix in 2007 for the Snickers "Hoedown" ad.In making the announcement, Cannes Lions CEO Philip Thomas noted that Mars has won Lions for work in countries that include France, the U.S., the U.K., Brazil, South Africa, Portugal and Chile, among others. He said the festival’s recognition is “a testament to a company which truly embraces creativity and demands outstanding work from its agencies.”
Bruce McColl, the chief marketing officer at Mars, will accept the
honors on June 23 during the film, film craft, branded entertainment &
content, and titanium & integrated Lions awards. Mars works with Omnicom
agencies BBDO and
DDB.
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